TORONTO, July 22 (Reuters) - Canada's main stock index hit
its highest close in a year on Friday, notching a fourth
straight weekly gain as yield-producing telecom and utility
stocks found favor, offsetting a plunge in shares of Valeant
Pharmaceuticals International Inc.

Valeant fell 6.2 percent to C$30.03 after U.S. regulators
raised concerns about a new eye drop the company manufactures.